Dacre sold the last of his DMGT shares in December 2013 for more than £347,500, but was latterly given more, including £1m worth in 2016 as part of a long term investment plan, external to his salary, benefits, and annual remuneration.

Dacre will become editor-in-chief and chairman of DMGT subsidiary Associated Newspapers from October this year and will resign from his role as board director of DMGT by the end of the financial year.